George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Well there hasn't been a huge sell off today. Price opened low, but volume is also low and seems to be more weighted to the buy side!
Shame no agreement on takeover but should demonstrate value here of at least 20p/share.
Agree, was thinking this earlier that any offer has to be at least 3 or 4 times net profit + cash in bank.
Let's not forget that the £37m offer (20p) is not official, but merely a (wishful thinking?) leak to the press, and Finncap have not made any comment on this via RNS.
A dividend payment only reduces the share price, as it is money coming directly out of the company coffers. So whether that money is distributed via dividend or included in the offer price for the company, I don't see that it makes any difference, so long as that amount is fairly represented in any takeover offer.
Share price rise straight to 20p tomorrow then!
Doesn't sound like a great deal, and is above my recent speculative purchases here, but was hoping for a better return!
They may have to increase their offer if there is already £25m in the bank.
Sounds about right! Doesn't look like any of their share dealing or spreadbetting capabilites are enabled for POLY. They said they are looking into it, so will wait to see what they come back with.
Thanks guys - more ammunition to go back to IG with! :)
Thanks Chique, I'll add LSE to my list.
I have enquired with IG as to why they are blocking purchases of this stock.
Will report back when I find out, in case anyone else is interested.
So that's HL, ii, and AJ Bell that do allow it.
Well, that's positive - talks are ongoing.
Hmm, not sure you can jump to that conclusion.
I'd guess on an extension to the takeover period being granted later today on the basis that conversations are still taking place...
We'll see.
LOL Watcher. Could be right there!
Thanks Echo1 and Katenip.
So HL and ii allow this stock to be bought, but not IG.
Anyone know why the discrepancy?
Which brokers allow you to buy this stock?
As from RNS dated 18 Oct:
"In accordance with Rule 2.6(a) of the Code, Panmure Gordon is required, by no later than 5.00 pm (London time) on 15 November 2022, to either
(i) announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code; or
(ii) announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.
This deadline can only be extended with the consent of the Panel on Takeovers and Mergers (the "Takeover Panel") in accordance with Rule 2.6(c) of the Code.
Further announcements will be made in due course as appropriate."
"Given the highest the SP traded at over the last 52 weeks was 37p. I would imagine that would have to be the minimum bid that gets made here."
Can't agree with that. Previous share price is irrelevant and doesn't represent the value of the business today.
I'm guessing the offer, should it come, is going to be not too far away from today's SP.
I don't mean those directly on the inside, but word tends to spread in the City with these things... if you know what I mean, nudge nudge, wink wink! This company does operate in the financial sphere and Mr Ricci is a very well known character, so you'd think there would be a lot of eyes on what he is up to. I guess the SP did rise by about 50% when the news initially broke.
Surely the SP would be trading much higher if those on the inside had wind of an offer of that size coming down the pipeline?
30-35p would be an almost doubling of market cap from where this was trading recently.
Thanks.